The US-China trade war is taking a toll on investor sentiment, but most of the blowback for world stock markets has been borne outside the US, based on year-to-date results for a set of exchange-listed products that represent the global economy's primary economic regions.
The relative strength for US shares could quickly fade in the weeks ahead, depending on how Donald Trump's impulsive and unpredictable decision-making process on trade unfolds. But, for the moment, the US market remains an outlier on the upside compared with the rest of the world in 2019.
SPDR S&P 500